I just understood the SIP4 of @ StandX_Official. It's really awesome. This SIP is difficult to understand, mainly due to two layers The first layer is difficult to understand: using on chain take profit/stop loss orders to synthesize on chain options. It is difficult for you to understand this product from the perspective of options from an official perspective. You need financial knowledge, and many places cannot be explained clearly Simply put, this product actually allows users to sell their liquidation rights for the take profit and stop loss orders they have placed. For example, if you go long on BTC and want to take a profit at $70k. A regular exchange places a limit order, which is tied when it arrives. The Block TP of SIP-4 is different - you are not placing an order, but posting a "I am willing to sell right for $70k". Others can pay a reservation fee to lock in this right. He can execute it at any time before the expiration, and you can earn an additional appointment fee by taking profits normally; If he doesn't execute, the appointment fee will also belong to you. Indeed, from a financial perspective, it is somewhat similar to Covered Call or Protective Put. You pay a reservation fee and buy a "right to proactively close positions at the agreed price" - note that it is "your own initiative", not the system automatically stopping losses for you. Price pin? Don't move for now. Did it really fall? You can execute it yourself. The entire process chain involves matchmaking and smart contract settlement, without the need to trust the counterparty. The second layer: But SIP-4 is actually impressive, it's not just about making options simple. I just realized that what he did was a stop hunting revolution What is stop hunting? In traditional CEX, all the take profit and stop loss orders you place run on the internal servers of the exchange. The exchange (and its affiliated market making institutions) have a clear understanding of the position of each stop. When the market liquidity is thin, they use very small funds to push the price to your stop loss level, triggering your liquidation, and then the price immediately rebounds - your position is' targeted harvested ', and you don't even know what happened. This is a secret publicly disclosed in the CEX derivatives market. Your stop loss order is essentially a piece of information that says' I will be forced to exit at X price ', and the exchange has been selling this information to make money! To put it more bluntly, the exchange has been secretly selling your take profit and stop loss data!! For market makers who specialize in targeted blasting!!!! This public secret even has a term called!!! stop hunting！！！ How did SIP-4 change this matter? Note that in SIP-4, your TP/SL is no longer a "passive, waiting for system auto execution" instruction. It has become a tradable on chain right - you proactively hang it up, the counterparty takes over, and the entire process is recorded on the chain (StandXNewOrder event). This means two things: 1. Transparent. Everyone can see the Block Options pending and matching on the chain. There is no longer an information black box, and your stop loss level is no longer a secret known only to the exchange. 2. You have made money. It used to be the exchange selling your information to make money, but now you can sell this money yourself and hold a position on Standx. In addition to the profits from placing orders on Sip2 and Sip3, there is also an additional profit from selling clearing rights on Sip4!!! So what exactly is SIP-4? It's not just "DeFi options" - at least not just. It is moving the most opaque and unfair link in CEX (where your stop loss order is used to harvest you) onto the chain, making it public, market-oriented, and returning to individual investors. You were already using take profit and stop loss, but now it can not only protect you, but also make money for you. The prey has turned into a hunter. This is the toughest part of SIP-4. Only the Standx team can come up with this idea, as their background is the core team responsible for designing Binance contract products. If you understand, you can say something awesome. Forget about what you don't understand.